Disney names parks boss Josh D’Amaro as new CEO to replace Bob Iger
By Brian Stelter, Liam Reilly, CNN
(CNN) — Josh D’Amaro, who chairs Disney’s hugely successful parks division, will succeed Bob Iger as The Walt Disney Company’s next chief executive next month.
Disney TV and streaming boss Dana Walden, who was thought to be the other leading contender for the CEO role, will become the company’s president and chief creative officer.
Disney announced the succession plan Tuesday morning, ending years of speculation about who would take the place of Iger, 74, atop one of the world’s biggest entertainment companies.
D’Amaro, 54, is the second parks chief to ascend to the top job after Bob Chapek, whose brief tenure as CEO interrupted Iger’s two stretches at the helm.
Iger handed off to Chapek in 2020 but soon soured on his successor, causing a behind-the-scenes power struggle that ended with Iger’s return as CEO in 2022.
That ugly chapter for the usually squeaky-clean Disney put added pressure on this succession process.
“Josh D’Amaro is an exceptional leader and the right person to become our next CEO,” Iger said in a statement. “He has an instinctive appreciation of the Disney brand, and a deep understanding of what resonates with our audiences, paired with the rigor and attention to detail required to deliver some of our most ambitious projects.”
“His ability to combine creativity with operational excellence is exemplary and I am thrilled for Josh and the company,” Iger added.
D’Amaro, who has overseen Disney Experiences since 2020, is already well known to Disney super-fans. He frequently tours the parks and highlights cast members (Disney’s moniker for employees) on social media.
His promotion to CEO emphasizes just how important theme parks and cruises have become to Disney.
The company is spending tens of billions of dollars to expand its parks and build more ships, recognizing growing demand for in-person experiences and believing that the attractions deepen customers’ affection for the Disney brand as a whole.
D’Amaro was with Iger last month on a tour of Disney’s planned resort destination in Abu Dhabi, its first new theme park in 15 years, a person familiar with both men told CNN.
Iger boasted about Disney’s parks business on the company’s quarterly earnings call on Monday.
“When you look at the footprint of the business today, it’s never been more broad or more diverse, and the projects that we have underway are going to make it even more so,” Iger said. “As I look ahead, I actually am very, very bullish on that business and its ability to grow.”
On Tuesday morning, the Disney board said that D’Amaro will take the reins on March 18, following the company’s annual meeting.
Iger, meanwhile, will stay on as a senior adviser and board member until his retirement at the end of his contract, on December 31.
Disney chairman James Gorman said Tuesday morning on CNBC that while Iger felt he could remain CEO through the end of the year, “he had developed the talent” to replace himself and felt that retiring “sooner was better.”
Disney said Walden’s new role, reporting to D’Amaro, is a “historic first.”
She will “ensure that storytelling and creative expression across every audience touchpoint consistently reflect the brand, engage audiences at scale, and advance core business objectives, while driving enterprise-wide initiatives and translating vision into action,” the company said.
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